Some of Britain’s biggest estate agency firms are targeting wealthy buyers for a £2bn residential development in Mayfair, where individual properties carry asking prices of up to £200m-plus.
Billionaire businessman John Caudwell has launched sales at 1 Mayfair, with selected brokers from UK Sotheby’s International Realty, Beauchamp Estates, Wetherell, Savills and Knight Frank briefed on the scheme.
£2bn Mayfair scheme details
The development, located on South Audley Street near Hyde Park, comprises 24 principal residences, including apartments, penthouses and townhouses. Prices start at £35m, rising to more than £200m for the penthouses.
Caudwell has also unveiled the first fully furnished apartment, a five-bedroom property priced at £83.7m. The sales launch comes ahead of the development’s scheduled completion in 2027.
Caudwell is overseeing sales directly, although selected agents can introduce prospective purchasers. The development has a reported gross development value (GDV) of £2bn, making it a substantial addition to London’s super-prime residential market.
Property sizes and configurations
Its 24 principal residences range from approximately 3,100 sq ft to almost 16,500 sq ft. The scheme includes 14 lateral apartments, two larger apartments, three penthouses and five townhouses. Buyers can also purchase one of five additional staff suites.
The five townhouses offer up to seven bedrooms, while the penthouses have between five and seven bedrooms. Each principal residence has private lift access, parking and storage facilities.
First furnished apartment unveiled
The first furnished residence occupies the fourth floor of the nine-storey development. The 6,523 sq ft apartment has five bedrooms, three private terraces and reception rooms overlooking Audley Square.
New York-based interior designer Jamie Drake worked with Caudwell on the interiors, drawing inspiration from The Dorchester hotel and some of its former guests. The wider development was designed by architect Robert A.M. Stern, while Juan Pablo Molyneux designed the communal reception areas.
Facilities include a 20-metre swimming pool, gym, treatment rooms, private library and 41 basement parking spaces. Dorchester Collection, through The Dorchester, will provide property management, concierge and hospitality services.
Sales launch ahead of 2027 completion
Caudwell said the furnished apartment would give prospective purchasers a clearer indication of the finished development. “The unveiling of the first dressed residence allows buyers to experience the true magnificence of 1 Mayfair, which offers trophy homes unprecedented in scale and grandeur.”
He added that the scheme would combine private residences with hotel-style services. The launch places another collection of high-value homes on the market at a time when prime central London continues to face pressure from higher ownership costs and cautious buyers.
For the estate agencies involved, the immediate challenge will be securing purchasers willing to commit tens of millions of pounds before the development reaches completion. Caudwell expects to complete 1 Mayfair in 2027.
